Inclusion of Natural Capital in Financial Sector Decision-Making
In order to accelerate the transition towards the inclusion of natural capital in financial sector decision-making, a Community of Practice for Financial Institutes & Natural Capital (CoP-FINC) was formed by important financial sector stakeholders in the Netherlands. The CoP-FINC was set-up as a means to increase knowledge and for sharing best practices by exchanging information and experience in private and online meetings. The Ministry of Economic Affairs (EZ) supported the CoP by providing professional process facilitators from the Netherlands Enterprise Agency (Rijksdienst Voor Ondernemend Nederland, RVO).
NewForesight’s experience in sustainable market transformations in agri-commodities led to our theories on sustainable market transformation that is applicable far beyond agriculture. We supported RVO in their workshop in 2015 by sharing these theories and giving compelling examples coming from cocoa and coffee. This offered financial institutions new insights into what needed to be done to improve the inclusion of natural capital in decision-making. We helped RVO to use this workshop to inspire participants and to accelerate the transition towards more sustainable policies in the financial sector.
In the article we co-wrote following our work, we describe the Sustainable Transformation Curve and place the financial sector on that curve, providing food for thought for next steps. To find out more, read the article that resulted from this assignment.